5.—(1) The functions which immediately before the date on which this subsection comes into operation are exercisable by the Department under Article 90(7) of the Education and Libraries (Northern Ireland) Order 1986 (power to authorise sale of teacher’s residence if provided etc. by a statutory loan prior to 1st February 1922 and now no longer required for occupation by a teacher in connection with any school) are hereby transferred as from that date to the Commission.
(2) The functions which immediately before the date on which this subsection comes into operation are exercisable by the Department under section 42(4)(b) of the Companies Act 2006 (prior written consent required in the case of a company which is a charity for affirmation of transaction to which section 41 of that Act applies) are hereby transferred as from that date to the Commission.